ponnarasi
09-12-2006, 02:55 AM
Okay...
The "Gold Thread", which contains excellent points and counter-points, is great for those with established knowledge and more importantly, the means to buy substantial quantities of gold and silver, but can those of you with that knowledge join in here and give some good advice for those who are "just starting out" with investing with limited means?
I have been slowly purchasing gold and silver over the last 4 years, albeit at a very slow pace, as my budget will allow. I was able to purchase silver in 10-ounce bars and in 1-ounce coins from a silver and gold mine where I worked. I have, to date, collected a modest cache of silver. Gold, however, has presented a more difficult problem. As a working man with a growing family, it is more difficult to plop down $400-$500 monthly for an ounce here or there. I have been reduced to snagging a 1/4 ounce here and there. My gold amount is far below what I would have liked.
Almost any career job has options for a 401K, or in my position the CALPERS with a 3% @ 50 retirement. But this is made easy secondary to entire mechanisim being geared for you to contribute as you work with very little headache. To set aside and gear up for gold, however, presents problems. The average broker is not geared for the little guy. They are only too happy to work with you when you are investing $5,000 plus into gold certificates, but seldom will you get a return call when inquiring about an ounce every other month or so.
1) So what is your advice for the avergage working stiff who wants to purchase gold for physical ownership?
2) What is smart as to a "good" amount of ownership of gold in relationship to debt?
3) Does the old axiom of of having 10% of your investments backed by physical ownership of gold still apply?
Please, weigh in with your viewpoints for those of us not possessing the means for substanial buying power, or those of us wanting to begin gold ownership.
__________________
www.constitutionparty.com
www.vdare.com
The "Gold Thread", which contains excellent points and counter-points, is great for those with established knowledge and more importantly, the means to buy substantial quantities of gold and silver, but can those of you with that knowledge join in here and give some good advice for those who are "just starting out" with investing with limited means?
I have been slowly purchasing gold and silver over the last 4 years, albeit at a very slow pace, as my budget will allow. I was able to purchase silver in 10-ounce bars and in 1-ounce coins from a silver and gold mine where I worked. I have, to date, collected a modest cache of silver. Gold, however, has presented a more difficult problem. As a working man with a growing family, it is more difficult to plop down $400-$500 monthly for an ounce here or there. I have been reduced to snagging a 1/4 ounce here and there. My gold amount is far below what I would have liked.
Almost any career job has options for a 401K, or in my position the CALPERS with a 3% @ 50 retirement. But this is made easy secondary to entire mechanisim being geared for you to contribute as you work with very little headache. To set aside and gear up for gold, however, presents problems. The average broker is not geared for the little guy. They are only too happy to work with you when you are investing $5,000 plus into gold certificates, but seldom will you get a return call when inquiring about an ounce every other month or so.
1) So what is your advice for the avergage working stiff who wants to purchase gold for physical ownership?
2) What is smart as to a "good" amount of ownership of gold in relationship to debt?
3) Does the old axiom of of having 10% of your investments backed by physical ownership of gold still apply?
Please, weigh in with your viewpoints for those of us not possessing the means for substanial buying power, or those of us wanting to begin gold ownership.
__________________
www.constitutionparty.com
www.vdare.com